Sumitomo Mitsui Trust Group Inc. Sells 17,363 Shares of Gartner, Inc. $IT

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of Gartner, Inc. (NYSE:IT) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 177,386 shares of the information technology services provider’s stock after selling 17,363 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Gartner were worth $28,087,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Moran Wealth Management LLC bought a new position in shares of Gartner during the 4th quarter worth approximately $3,516,000. CWM LLC lifted its holdings in shares of Gartner by 86.4% during the fourth quarter. CWM LLC now owns 57,684 shares of the information technology services provider’s stock valued at $14,553,000 after acquiring an additional 26,734 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Gartner by 111.7% in the 4th quarter. GHP Investment Advisors Inc. now owns 25,569 shares of the information technology services provider’s stock valued at $6,451,000 after purchasing an additional 13,493 shares in the last quarter. Laurus Global Equity Management Inc. boosted its stake in shares of Gartner by 135.0% in the 4th quarter. Laurus Global Equity Management Inc. now owns 34,260 shares of the information technology services provider’s stock valued at $8,643,000 after purchasing an additional 19,680 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its holdings in shares of Gartner by 67.3% in the 4th quarter. Douglas Lane & Associates LLC now owns 200,418 shares of the information technology services provider’s stock worth $50,561,000 after purchasing an additional 80,591 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Gartner Stock Up 6.0%

Shares of NYSE IT opened at $141.23 on Tuesday. The firm’s 50-day simple moving average is $147.32 and its 200 day simple moving average is $169.69. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.97. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 46.98. Gartner, Inc. has a 12-month low of $124.25 and a 12-month high of $375.84.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, May 5th. The information technology services provider reported $3.32 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.33. Gartner had a net margin of 11.44% and a return on equity of 161.39%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the company posted $2.98 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Gartner has set its FY 2026 guidance at 13.250- EPS. On average, research analysts expect that Gartner, Inc. will post 13.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IT has been the subject of several analyst reports. Royal Bank Of Canada cut their price target on shares of Gartner from $175.00 to $160.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Morgan Stanley decreased their price objective on shares of Gartner from $183.00 to $173.00 and set an “equal weight” rating on the stock in a research note on Friday. Weiss Ratings lowered shares of Gartner from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 24th. Wells Fargo & Company cut their target price on shares of Gartner from $140.00 to $120.00 and set an “underweight” rating for the company in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $162.00 price target on Gartner in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $173.10.

Gartner Profile

Gartner, Inc is a global research and advisory firm that provides insights, advice and tools for leaders in IT, finance, HR, customer service and other business functions. Founded in 1979 and headquartered in Stamford, Connecticut, Gartner specializes in helping organizations make informed decisions about technology, operations and strategy through a combination of published research, advisory services, consulting, executive programs and events.

The company’s offerings include proprietary research reports, market forecasts, and analytical frameworks that are widely used by technology buyers and vendors.